Know Why Indigo is Trending today, Check the Ichimoku Setup

Indigo was suggesting the up move 10 days earlier its happening with the help of Elliott-Neo wave pattern along with Ichimoku confirmed the positive direction up move. In today’s session the stock has gained 5% till now check the research below to capitalize on such trending stocks in well advance.

Ichimoku Cloud has been one amazing technique that combines various aspects of advanced studies together. It not only helps us to clarify the wave counts but also provides the cyclicality and trend following method.

Look at the below chart of Indigo published in the equity research report on 20th August morning before markets opened – The Financial Waves short term update

Indigo Hourly chart: (Anticipated as on 20th August 2020)

Elliott Wave analysis: Following was mentioned on 20th August when the stock was near 1213 levels.

Indigo has seen higher high and higher low formation which indicates positive bias as per simple Dow Theory.

On the daily chart, ………We have seen Bollinger bands, wherein prices have given breakout of its upper Bollinger band and managed to close above the upper Bollinger band which indicates bullishness. …full research mentioned in actual dated daily research report.

As shown on the hourly chart, as per wave perspective wave 3 seems to have started on the upside as price retraced the last falling segment in faster time the first leg on the upside is currently ongoing within wave 3. As seen on Ichimoku cloud, the stock has moved on higher post breaking above the prices. Since prices are placed above the cloud and also above base and conversion lines indicating positive bias to continue.

In short, the overall outlook for Indigo will remain positive use pullback as buying opportunity as long as 1150 support intact for the move towards 1270 levels.

Happened: Indigo has showed precise movement as expected and suggested by Ichimoku cloud and Wave counts. The stock today’s intraday high made exactly near 1272 levels. These levels were fore casted weeks ago even before its happening using basic and advance technical methods as you can see in above research.

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